All Retail articles – Page 27
-
ArticleSteve Madden cuts full-year guidance on order intake
Steve Madden reported third-quarter results in line with market expectations but slightly reduced its full-year guidance due to a slowdown in orders. In the period ended Sept. 30, the company posted a 5.3 percent increase in revenues year-over-year to $556.6 million. Sales for the wholesale business increased by 8.1 percent ...
-
ArticleHavaianas’ growth in EMEA slows for Alpargatas
Alpargatas generated a 5.4 percent (+21 percent currency neutral) sales growth to 132.0 million Brazilian reais (€32.5m) for its rubber sandal brand in the EMEA during the third quarter. Revenues per pair increased by 4 percent in constant currency. Overall, Havaianas’ sales fell in all other geographic regions, although they ...
-
ArticleWeyco expects sales dip after record Q3
Weyco Group generated record sales in the third quarter of 2022, with revenues jumping by 56 percent compared to the year earlier to $97.0 million. Growth was led by its North America wholesale business and underpinned by strong consumer demand, higher selling prices and the “abnormally low” revenues seen in ...
-
News briefsNext maintains FY guidance as Q3 comes in ahead of expectations
Next maintained its full-year guidance as it posted a rise in third-quarter sales, despite soaring inflation hitting consumer spending. Full-price sales were up by 0.4 percent year-on-year in the 13 weeks to Oct. 29, slightly ahead of the expectations of the British fashion retailer. Online sales fell by 1.9 percent ...
-
News briefs
H&M’s Arket opens flagship in Paris
The first French flagship store of Arket, H&M’s “one-stop destination for sustainable fashion for women, men and children,” opens Nov. 4 in a sleek Scandinavian design at 13 Rue des Archives in Paris. The store covers 400 square meters on two floors and overlooks a courtyard with a terrace. Arket ...
-
ArticleCCC to raise funds, restructure debt
CCC Group announced plans to extend the duration of financing set to mature in the first half of 2023 and has called an extraordinary general meeting of shareholders on Nov. 17 to discuss equity financing of up to 500 million zloty (€106.3m) as it looks to raise fresh cash to ...
-
News briefs
German energy price cap effective from early 2023
German energy price caps announced by the Chancellor Olaf Scholz to mitigate the impact of inflation will go into effect in early 2023, according to a government timetable. The gas price effect is set to go into effect on Jan. 1 for large companies and on March 1 for households ...
-
ArticleRussian children’s footwear market faces turmoil
The bankruptcy of Russia’s leading manufacturer of children’s footwear heralds harsh times for the industry, which is facing supply issues, higher costs and a shrinking product line. Skorokhod, a St. Petersburg-based shoe factory, has gone bust, dragged down by the weight of its debts. It was one of the largest ...
-
News briefs
EU considering further Belarus sanctions
The European Union will examine the possibility of imposing sanctions against Belarus for its role in supporting Russia in its war against Ukraine, according to Czech prime minister Petr Fiala. The Czech Republic holds the rotating presidency of the European Union. “We are currently examining…Belarus’ role and the potential need ...
-
News briefs
Clarks opens first U.S. store in 3 years
Clarks opened a 2,300 square feet store in the Amerian Dream mall in East Rutherford, New Jersey. It is the first store opened by the British footwear brand in the U.S. in three years. In an interview with Footwear News, Gary Champion, the president of Clarks Americas, said “this store ...
-
News briefs
Rugged outdoor footwear market rebounds in 2021
After a disappointing 2020, impacted adversely by the global pandemic, the global branded outdoor shoe market returned to growth last year. Worldwide rugged outdoor footwear sales climbed 28 percent higher to $6,756 million in 2021, based on research conducted by the Outdoor Industry Compass in partnership with Sporting Goods Intelligence. ...
-
News briefs
Skechers escorts Kanye West out of L.A. corporate building
Slowly but surely, Kanye West should realize that he is no longer welcome due to the antisemitic, racist and hateful remarks he made recently across multiple forums. After the recent contract cancellations with Adidas, Balenciaga, CAA, MRC and Gap, Skechers USA now released a statement in which it reports that ...
-
ArticleRussian shoe factories ramp up military production
Several Russian shoe factories have ramped up the production of military boots and other military items, such as berets, in the wake of mass mobilization in the country. Russia invaded Ukraine on Feb. 24 but military setbacks prompted the country’s president, Vladimir Putin, to order a partial mobilization on Sept. ...
-
News briefs
Price growth in footwear is slowing down in the U.S.
In September, retail prices for footwear grew by 3.9 percent year-on-year in the U.S., the weakest increase in 18 months, according to Footwear Distributors and Retailers of America (FDRA). Meanwhile, overall inflation reached 8.2 percent in the country. Prices rose by 4.8 percent for women’s shoes, by 3.5 percent for ...
-
News briefs
U.K. drops VAT-free shopping scheme
The British Finance Minister, Jeremy Hunt, announced that the government no longer plans to introduce a scheme eliminating value-added tax (VAT) for overseas tourists. Hunt was appointed Finance Minister, or Chancellor of the Exchequer, on Oct. 14, replacing Kwasi Kwarteng. Kwarteng had to step down after only 38 days in ...
-
ArticleHow Dirty Harry helped a Spanish shoemaker conquer the world from his garage
Like Steve Jobs, Basilio García Pérez-Aradros started his business in a garage. For seven years, every day from early in the morning until late at night, he worked on his dream that started in the late sixties: that of producing quality shoes with traditional craftsmanship to sell them all over ...
-
ArticleFrasers Group buys Australia’s Sneakerboy out of administration
The British retail chain Frasers Group has bought the collapsed Australian luxury footwear and streetwear retailer Sneakerboy for an undisclosed sum, according to media reports. Frasers, which owns the Sports Direct chain and a wide portfolio of brands, will keep Sneakerboy’s staff and run the business but not take on ...
-
ArticleRussia shopping centers call for a tax break
The Russian council of shopping centers is calling for immediate assistance from regional governors as the average footfall has dropped by 20 percent in the first nine months of 2022 compared with the same period of the previous year. The association is calling for tax breaks until September 2024. In ...
-
ArticleMephisto launches its Nature is Future collection worldwide
At the latest edition of Micam, held from Sept. 18 to 20 in Milan for the presentation of spring/summer 2023 collections, Mephisto started distributing worldwide its sustainable women and men’s sneakers brand Nature is Future by Mephisto. The French company launched the brand a year ago with the spring/summer 2022 ...
-
ArticleSante + Wade plans to expand to physical stores
Sante + Wade, a premium British women’s footwear brand offering large sizes and fits, is planning to distribute its models in physical stores, with a focus on the U.S. and some large European markets. The company created by Shola Asante and Agnès Cushnie started operating in 2019. The brand, which ...
